Skip to Main Content
HBS Home
  • About
  • Academic Programs
  • Alumni
  • Faculty & Research
  • Baker Library
  • Giving
  • Harvard Business Review
  • Initiatives
  • News
  • Recruit
  • Map / Directions
Faculty & Research
  • Faculty
  • Research
  • Featured Topics
  • Academic Units
  • …→
  • Harvard Business School→
  • Faculty & Research→
Publications
Publications
  • September 2017 (Revised January 2019)
  • Case
  • HBS Case Collection

FJ Management Inc.

By: Lynda M. Applegate and Matthew G. Preble
  • Format:Print
  • | Language:English
  • | Pages:23
ShareBar

Abstract

In late 2015, Crystal Call Maggelet, president and CEO of FJ Management, is working with her investment committee to help set the company’s strategic direction. Maggelet, daughter of the company’s founder, has led FJ Management since 2009 when she stepped in as CEO following an unexpected bankruptcy. At that time, FJ Management was known as Flying J. Flying J owned and operated hundreds of truck stops—which it called Travel Plazas—nationwide and was a growing multi-billion dollar business, but broader problems in the oil and credit markets in late 2008 forced it to declare Chapter 11 bankruptcy. Maggelet, who had been serving on Flying J’s board, became its new CEO and was able to successfully manage competing stakeholder demands, keep the business running, and ultimately paid back every dollar it owed to its creditors by selling the company’s core assets—its travel plazas—to its main competitor in 2010. Since that time, the company had returned to a healthy financial position, diversified its holdings, and made investments in diverse industries to determine how to grow the company, since renamed FJ Management. In 2015, Maggelet now wants to set a clear path forward for the company.

Keywords

Turnaround; Company History; Family Business; Transformation; Volatility; Change Management; Entrepreneurship; Ethics; Moral Sensibility; Values and Beliefs; Cash Flow; Insolvency and Bankruptcy; Financial Liquidity; Financial Management; Governance; Corporate Governance; Governance Controls; Leadership; Leading Change; Crisis Management; Negotiation; Organizational Change and Adaptation; Family Ownership; Business and Stakeholder Relations; Business Strategy; Energy Industry; Travel Industry; Retail Industry; Service Industry; Utah

Citation

Applegate, Lynda M., and Matthew G. Preble. "FJ Management Inc." Harvard Business School Case 818-028, September 2017. (Revised January 2019.)
  • Educators
  • Purchase

About The Author

Lynda M. Applegate

Entrepreneurial Management
→More Publications

Related Work

    • September 2017
    • Faculty Research

    FJ Management Inc.

    By: Lynda M. Applegate, James Barnett and Matthew G. Preble
    • September 2017 (Revised January 2019)
    • Faculty Research

    FJ Management Inc.

    By: Lynda M. Applegate and Matthew G. Preble
Related Work
  • FJ Management Inc. By: Lynda M. Applegate, James Barnett and Matthew G. Preble
  • FJ Management Inc. By: Lynda M. Applegate and Matthew G. Preble
ǁ
Campus Map
Harvard Business School
Soldiers Field
Boston, MA 02163
→Map & Directions
→More Contact Information
  • Make a Gift
  • Site Map
  • Jobs
  • Harvard University
  • Trademarks
  • Policies
  • Accessibility
  • Digital Accessibility
Copyright © President & Fellows of Harvard College